Follow Up

Facebook's Results Fail to Impress

Facebook racked up big gains in mobile advertising, but at the expense of its core desktop business. With a market value of $71 billion and annualized mobile revenue of just $1.5 billion, that's hardly something to celebrate.

May 4, 2013

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Wall Street breathed a sigh of relief on Wednesday when Facebook reported first-quarter results that merely met investor expectations. Revenue rose 38%, to $1.46 billion, year over year, and pro-forma earnings were unchanged at 12 cents per share.

Investors responded by pushing the stock 5.6% higher on the day. Shares...